For the uninitiated, the dot-com bubble burst occurred from 1997 to 2001. The rapid growth of Internet usage and adoption at the time fueled investments at incredibly high valuations and companies that haven’t even turned a profit went public. The hype wasn’t sustainable, though, and capital soon dried up. As you’ll learn below, this was ultimately one of the reasons why Boo.com (among others) shut down.
The ecommerce industry will continue growing. According to N Channel, in the US, brick and mortar retailers generate $3.9 trillion in sales while ecommerce generates $294 billion. Over time, ecommerce will continue to take away market share from brick and mortar retailers as it has been doing over the past few years. This is good news for those looking to start online stores as sales will only continue to go up, though competition will also increase in the space.
This feature of a Shopify store can be a huge cost savings. If you were to set up an online store on your own, you’d have to contract with a third party credit card processor such as Authorize.net, who would not only charge you a per-transaction fee in the same neighborhood as Shopify, but they’d also likely hit you with a setup fee in the hundreds of dollars, as well as a monthly maintenance fee which tends to be in the $30 range. When you’re just starting out, those extra fees can put a lot of drag on your launch, so using Shopify’s payment gateway is a smart move—unless you already process payments on another site with a third-party provider.
The first time you connect, existing Shopify store customers who agreed to accept marketing emails will be imported to your Mailchimp list as subscribed contacts. Customers who haven’t opted in to email marketing will be added as non-subscribed contacts. After that, we'll continue to import new customers as subscribed or non-subscribed based on whether they opt in to email marketing at checkout. To learn more about different contact types, read About Your Contacts